The content of this section is intended for investors and for informational purposes only. The content is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Kommuninvest does not make representation or warranty (express or implied) of any nature or accept any responsibility or liability of any kind for accuracy or sufficiency of any information, statement, assumption or projection in this information, or for any loss or damage (whether direct, indirect, consequential or other) arising out of reliance upon this content. The reader of the information of this section is solely responsible for making its own independent appraisal of the contents herein.
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Information regarding the treatment of personal data by Kommuninvest i Sverige AB
Kommuninvest has high ambitions regarding openness, traceability and transparency. At the same time, the company complies with regulations aimed at protecting the individual and its integrity. Much of the information pertaining to an individual is referred to as personal data. Personal data are defined as follows:
Any information directly or indirectly attributable to a human being who is in life is regarded as personal data. Even images (photos) and sound recordings on individuals treated by computer can be personal data even if no names are mentioned. Encrypted data and various types of electronic identities, such as IP numbers, are counted as personal data if they can be linked to a physical person.
This information describes Kommuninvest's considerations and regulations regarding the company's handling of personal information when you visit our websites or have other contacts with us.
Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organization. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to all data that is held about you.
By visiting our site, you agree to these privacy principles. If you do not agree to these data protection principles, stop using this site and refrain from phone contacts. We refer instead to mail correspondence, which is handled through the registrations department.
Please feel free to get in touch with us if you need any further information about this by using the contact details below.
Personal data that is being managed
Kommuninvest processes personal data for the administration and execution of contracts that are in force, and to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily when visiting the Kommuninvest website, when entering contracts, or when data is otherwise recorded about the preparation or administration of a contract (for example, about a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed by recording the call. Kommuninvest may also supplement personal data by obtaining further information from public records.
Personal data may be disclosed in certain situations where Kommuninvest is obliged by law to provide information to an agency, for example the Swedish Financial Supervisory Authority, or the Swedish Data Protection Authority.
Kommuninvest may occasionally collect anonymous information about the use of its websites to improve the site and the services provided. These usage data may apply among others:
the number of visits to the site and their length;
the user's geographical position;
usage rate of the site different sections;
which technique is used;
disturbances in the business.
The data is not reviewed at an individual level without your express permission.
When Kommuninvest collects identifiable data, we strive to inform you as to the purpose for which the information is requested. Normally, this information is requested to answer your questions.
Kommuninvest may share this type of information within the Group for the purposes mentioned in this information.
Kommuninvest uses subcontractors to offer digital services. We may need to share your personal information with these for them to provide us with their services. Our subcontractors may not use this kind of personal data for any other purpose and we assume that their services are covered by privacy. Kommuninvest does not sell and does not exchange personal data with other companies for marketing purposes.
Kommuninvest may contact you to complete customer satisfaction and market research.
In an application or request relating to an employment advertised on our website or in any other medium, you may need to provide Kommuninvest personal information, such as your resume. Kommuninvest can use this information on all its units when making employment decisions or for purpose of the request. Kommuninvest can save the data for future use, unless you have prohibited this.
Subcontractors in information management
In some situations, Kommuninvest uses subcontractors who collects, evaluates and otherwise handles data on our behalf. Kommuninvest's principle is that subcontractors commit to our data protection regulations. Normally this is governed by an agreement between Kommuninvest and our suppliers.
The accuracy of your personal data
This site may not be used to publish or disseminate data protected by copyright or other equivalent rights without the permission of the proprietor, or otherwise in a way that is adversely, offensive or harmful to Kommuninvest or third parties. By submitting this type of information through the Website, you grant Kommuninvest the right to use, develop, produce, distribute, publish or transmit the information you send in whole or in part, and / or add the data sent from you without obligation and liability to other material or other products or services.
Transcript from register and the rectification of errors
Once a year you can, free of charge, request a transcript from Kommuninvest whereby you will receive information on the personal data about you that is being held, where this data came from, why it was obtained, the purpose for which it is being held, and to whom any data may be disclosed. If you would like to be sent such a transcript, please send a written request, signed by you, to the address you will find below. You can notify us at the same address if you no longer wish to receive information from Kommuninvest, or if you would like to request the correction of some erroneous or incomplete personal data.
Comments on Kommuninvest's actions
You are welcome to contact Kommuninvest's complaint manager who takes care of your comments. Describe what you are not happy with and who you previously have had contact with.
Kommuninvest i Sverige AB
701 42 Örebro
From the outset, Kommuninvest has had a good number of particularly good years, but, when the history books are written, I would venture to say that 2017 will prove to have been a particularly strong year. Much has developed to strengthen local government infrastructure for investment funding in both the short and long term.
Nearly 290 municipalities and county councils/regions are members of Kommuninvest Cooperative Society, and are thus, together with their majority-owned companies, associations and foundations entitled to borrow funds from Kommuninvest i Sverige AB. It is in the service of our members and customers that we work each day to ensure secure and cost-effective financing for investments in Swedish welfare.
Membership benefits for all
Total lending rose by 12 percent to SEK 310 billion, due to increased municipal investment and borrowing needs, but also because of our higher share of the sector’s overall borrowing. The Municipality of Linköping and the City of Mölndal became new members. We focus our process of change on four areas: Customers, Digitisation, Efficiency and Competence. This is to ensure that Kommuninvest will continue to be able to meet the expectations of its members and customers in the future.
Local government debt office for the future
Thanks to our KI Finans service, we have access to large amounts of data on local government debt management. This enables in-depth analysis and more effective debt management for Kommuninvest’s members and customers. In addition to inexpensive and secure credit, this also provides considerable opportunities to offer consultation based on data analysis and benchmarking.
We have also begun digitising our services to an increasing extent. We are partnering with Örebro University on artificial intelligence to simplify and improve analytical services.
Cost-effective borrowing and matching
Efficient funding and low administrative costs are crucial to generate long-term added value for its members in the form of lower borrowing costs. We are placing increasing emphasis on our strategic borrowing markets in USD and SEK, and have undertaken a series of measures to increase the attractiveness of our bonds. The Swedish market in particular is in focus.
A new strategy for matching assets and liabilities was introduced during the year. This contributes to better terms in lending, but also to a more solid liquidity reserve.
Green realignment unites local government and investors
Today, institutional investors increasingly seek sustainable management of their funds, and also to finance clearly defined green and/or social projects. For credit institutions such as Kommuninvest that primarily finance sustainable, green and social investment by municipalities and county councils/regions, this offers favourable opportunities. To date, efforts with Green Loans and Green Bonds have been successful, and the award conferred by the UNFCCC Secretariat during the year provides valued recognition.
Sustainable local government finances
Meeting sizeable investment needs sustainably remains in focus for the local government sector. It may be assumed that demand for welfare services will continue to be high for many years ahead. We estimate that local government investment and external loan debt will increase by more than 5 percent annually in the years to come. At the same time, local government pension debt is decreasing and the Swedish economy is growing at a good rate. Consequently, the overall increase in debt will be manageable and limited relative to GDP.
On the right track
In summary, 2017 was a year that built a good foundation for continuing to develop the infrastructure for local government funding. Combined with the positive marketing and regulatory developments we saw over the year, this allows me and my colleagues to take on the coming year with an exceptional degree of confidence.
This is the web version of the annual review for Kommuninvest. It is a summary of the complete legal versions of the annual reports for the two legal entities Kommuninvest i Sverige AB (the Company) and Kommuninvest Cooperative Society (the Society). The complete legal versions can be downloaded as PDF.